II. Life coverage is inadequateOne in three has no idea what ideal life cover should be. Their current cover is half the ideal requirement.

Rs 20 lakh is the average life cover of those earning between Rs 2.5 lakh and Rs 5 lakh per annum.Rs 30 lakh is the average life cover of those earning between Rs 5 lakh and Rs 10 lakh per annum.Rs 50 lakh is the average life cover of those earning Rs 10 lakh a year and above

III. Self assessment of coverage overestimates preparednessNearly one in three feels he has enough to take care of his family, but many have no cover at all.

58% Feel they have adequate life cover through term insurance.31% Feel they have enough assets to take care of their families12% are planning to buy a term cover in the near future.37% Of those earning less than Rs 5 lakh have no idea about life cover.12% Do not have any life insurance

IV. Not too many are writing willsDespite awareness about importance of leaving a will, execution remains low.

13% have executed a will.14% havenât heard about a will.72% have heard about, but havenât executed a will.81% are saving and investing to build legacy corpus14% have executed a will.

45% maintain a scanned copy of key documents on their laptops or desktops.39% store photos of documents on their mobile phones.27% carry the documents with them in their bags or wallets.13% use government apps like Umang or Digi Locker to store them.

Source: Exide Life Insurance Money Habits Survey 2018. The survey polled 2,408 respondents in the age group of 30-60 years across 12 cities. Figures do not add up to 100 due to multiple responses.